Emergency measure for Banco del Orinoco N.V. imposed at the request of the CBCS

Willemstad/Philipsburg – The Centrale Bank van Curaçao en Sint Maarten (CBCS) was forced, in view of deficiencies at Banco del Orinoco N.V., to petition the Court of First Instance of Curaçao to adopt an emergency measure with respect to Banco Del Orinoco. The petition was made in the interest of depositors and other creditors of Banco Del Orinoco.
The emergency measure for Banco Del Orinoco was pronounced by the Court of First Instance of Curaçao on September 5, 2019. As a result of the emergency measure, Banco Del Orinoco cannot be forced to satisfy its debts. Any pending enforcement measures are suspended and attachments are lifted. On Thursday, September 5, 2019, at 3.30 PM in the afternoon, the CBCS will hold a press conference to inform the public, depositors and other creditors.
The CBCS is responsible for supervising the financial sector in Curaçao and Sint Maarten. In doing so, it focuses on the interests of the present and future creditors of the institutions under its supervision. The CBCS sees to it that the supervised institutions deal responsibly with the resources entrusted to them and that they comply with applicable laws and regulations.

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